The value of property, less deductions for appreciation.

A person who projects losses based on exposure and previous loss history.

Value placed on property by a qualified expert.

Damage to university-owned vehicles.

Guarantee to pay if specific conditions are met.

Coverage for lost revenue due to a covered occurrence.

A subsidiary company providing insurance to its parent.

Form that evidences insurance including insurer, coverage and limits.

A type of physical damages resulting from collision with another vehicle or other object.

A type of physical damage not resulting from collision.

Assistance provided to employees to minimize the effects of illness and injuries while encouraging a safe and expedient return to work.

A layer of insurance coverage that is second to the primary insurance.

The loss record of a department or line of insurance coverage. Classified statistics showing what has happened in the past.

Assets whose value increases over time due to their rarity or intrinsic value.

Agreement wherein one party agrees to pay for the loss or damage it causes to another.

Legal obligation to reimburse for damages to third parties.

Amounts the university is legally obligated to pay to reimburse for damages to third parties arising out of the serving of alcohol.

A record of employee or contractor work-related injuries and illnesses.

An adverse accident or event neither expected nor intended.

Benefits provided under the Michigan No-Fault Act for accidental bodily injury sustained while in a university vehicle or from an injury sustained arising out of the operation, use or maintenance of a vehicle.

Amounts charged for insurance coverage.  Premium factors include loss experience and exposure.  Calculation methodology varies by coverage.

The first layer of insurance coverage.

The cost incurred to replace property with like, kind and quality.

The amount estimated to be paid to resolve a claim.

Proceeds recovered from a third party as recovery for damages or losses incurred by the university.

The deductible amount of an insurance policy.

A term used to denote the exposure to damages involving human or physical assets.

Any proceeds from the repaired, recovered, or scrapped property.

University funds set aside to meet losses it retains.

Any proceeds of negotiations or legal action taken against negligent third parties.

Coverage for lost revenue due to a covered occurrence.

The sum of amounts and reserved for a claim.

A layer of insurance coverage that is second to more than one layer of primary insurance.

A person providing authorized work/assistance to the university without compensation.